Home / Knowledge / News / Fashion / Pacific Sunwear same-store sales drop in Q1

Pacific Sunwear same-store sales drop in Q1

23
May '08
Pacific Sunwear of California Inc announced that total sales from continuing operations for the first quarter (13 weeks) of fiscal 2008 ended May 3, 2008, were $266.9 million versus total sales of $268.1 million from continuing operations for the first quarter (13 weeks) of fiscal 2007 ended May 5, 2007. Total Company same-store sales decreased one percent during the period.

The Company recorded a net loss from continuing operations of $12.0 million, or $0.17 per diluted share, for the first quarter of fiscal 2008 compared to a net loss of $0.3 million, or less than one cent per diluted share, for the first quarter of fiscal 2007.

First quarter results for each period exclude the income statement impact of demo and One Thousand Steps due to their being designated as discontinued operations during the first quarter of fiscal 2008 and the fourth quarter of fiscal 2007, respectively.

First quarter results for fiscal 2008 include an after-tax asset impairment charge of $4.9 million, or $0.07 per diluted share, associated with the Company's materials handling equipment in its closed Anaheim distribution center. Assuming all contingencies to closing are satisfied, the Company currently expects the previously announced sale of its Anaheim distribution center to be completed by the end of fiscal 2008.

"Although our first quarter was disappointing, we successfully accomplished four meaningful initiatives that position us well going forward. We completed the liquidation of our demo business; consolidated distribution activities to into our Olathe, Kansas Distribution Center; entered into an agreement to sell our Anaheim Distribution Center, and transitioned sneakers and fashion footwear from our PacSun stores," commented Sally Frame Kasaks, Chief Executive Officer.


Must ReadView All

Pic: Shutterstock

Textiles | On 24th Nov 2020

UK secures vital rollover trade deal with Canada

The UK and Canada have locked in their existing trading relationship, ...

Pic: Shutterstock

Textiles | On 24th Nov 2020

'No deal' Brexit to badly affect T&C industry: EURATEX

A 'no deal' Brexit would have a detrimental impact on the textile and ...

Pic: Shutterstock

Apparel/Garments | On 24th Nov 2020

Women hit hard by COVID-19 impact on garment sector: ILO

The impact of COVID-19 on garment sector women has worsened due to...

Interviews View All

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

Ajay Ghariwala, Luthra Group

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Marco Girola,

Marco Girola

With its commitment to innovation and deep technical expertise,...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search